The CEO of the company CJSC "Shcholkovo Agrokhim" Salis Karakotov noted that there is an active replacement of traditional olive oil with more affordable sunflower oil in the world, which is not typical for other countries.
Russian producers plan to replace 75% of the domestic sunflower seed market by 2028, with CJSC "Shcholkovo Agrokhim" aiming to capture 25% of this share. This was announced by the company's CEO Salis Karakotov.
The Ministry of Agriculture of the Russian Federation previously reported in a Telegram channel that foreign seed supplies decreased by a third in 2023, and interest in domestic developments has significantly increased.
"We see that due to the attractive cost, high quality, and productivity of sunflower seeds, we are actively displacing imports. I believe that by 2028, other domestic breeding companies will be able to catch up with us, and together we will satisfy 75% of Russia's sunflower seed needs, of which 25% will belong to us, CJSC "Shcholkovo Agrokhim,"" the agency's source said.
He noted that there is an active replacement of traditional olive oil with more affordable sunflower oil in the world, and foreign agriculturists show interest in independently growing this crop. "We are facing competition from well-known European and American companies," added Karakotov.
CJSC "Shcholkovo Agrokhim" is a system-forming enterprise. According to the organization's data, its turnover amounted to 40.5 billion rubles in the last year. More than 2,000 people work at the enterprise.
